how do I show capital introduced

how do I show capital introduced

Postby stapler on Sun Dec 18, 2011 6:38 pm

Hi, when I do my accounts how or where do I show capital introduced
Many thanks
stapler
 
Posts: 8
Joined: Mon Jan 17, 2011 10:10 am

Re: how do I show capital introduced

Postby mullet on Sun Dec 18, 2011 10:52 pm

If you are using double-entry bookkeeping, then the credit is in the capital account. The debit is bank (if it's money), assets (if it's a car or property etc), purchases/stock (if it's stock) or expenses (if you are bearing business costs). That list is neither prescriptive nor exhaustive.

If you are not using D/E bookkeeping, then just keep a record of the amount and date. And whatever record-keeping system you use, you may need to evidence the source of the capital to HMRC at some point (if you are selected for enquiry).
mullet
 
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